The planned listing of the Mass Transit Railway Corp (MTRC) is on schedule for late September or early October, according to chairman Jack So Chak-kwong. The size of the initial public offering (IPO) would be finalised after the company's valuation determined, Mr So said yesterday after signing a HK$400 million revolving credit and term loan facility. MTRC has yet to disclose whether it plans to list on the main board or on the Growth Enterprise Market (GEM). The company may issue the IPO though electronic share subscription, Mr So said. Banking sources said MTRC would use multiple platforms - including the traditional non-electronic subscription method in the IPO. The Government announced last year that it expected to raise HK$30 billion by selling a minority stake of MTRC in two tranches over the next two years. Goldman Sachs, HSBC Investment Bank and Warburg Dillon Read are joint global co-ordinators for the IPO.